JERSEY NATIONAL RISK ASSESSMENT PUBLISHED

On 30 September, ITV News reported that the first National Risk Assessment (NRA) of money laundering has been published by the Government of Jersey. The report aims to identify where the island is most likely to be used by criminals to launder the proceeds of crime.  It mentions a lack of robust policy and weaknesses in intelligence gathering and the FIU had in the past faced difficulties securing adequate funding for staff training. An action plan will be put into place to address the detailed findings of NRA over the coming months, with further reviews in 2021 to assess the threat of the island being used to facilitate terrorist financing and updating the NRA so that a process to ensure that Jersey’s defences are constantly being assessed and improved is in place.

https://www.itv.com/news/channel/2020-09-30/jersey-may-have-been-vulnerable-to-money-laundering-due-to-lack-of-staff-training

The NRA can be found at –

https://www.gov.je/Industry/Finance/Pages/NationalRiskAssessmentMoneyLaundering.aspx

I had left off this link (as it did not seem to generate much interest!), but it seemed time to add it again and say that, if you would like to make a (polite) gesture and help me with my removal and computer costs, I have a page at https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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